Vaughan rises 3 spots as a top city in Ontario for real estate

Ontario is developing and the real estate market is changing. That is especially true for the province of Vaughan. While is was one of the regions in Ontario which were less attractive in the past decades, it is now developing fast. The reasons are diverse.

Nowadays, Vaughan is one of the top cities in Ontario when it comes to real estate investments. According the Top Ontaria Investment Towns 2014 report of the Real Estate Network, the city is number seven out of eleven communities.

2012, in the last report, Vaughan was only on spot ten, so it has gained attractiveness. In 2014, it ranked before Whitby, Pickerng, Ajax, Orillia, Miltion and Toronto.

The goal of the report is to provide an analysis of recent developments and future prospects for investments in real estate in Ontario. It consists of 140 pages and takes an in-depth look at regions that could become more attractive for investors during the next five years.

According to the report, a fast-paced population growth, low taxes and easy access to markets attract companies to Vaughan. All hat leads to increasing house prices and rising construction values.

Especially two developments caught the eye of the analysts: the Toronto-York Spadina subway and the Vaughan Metropolitan Center. Both projects will make it easier to get into the city and to get around once you are inside. This makes the city more attractive for residents and therefore attracts people to settle down in Vaughan.

The ranking of the Top Ontario Investment Towns report is mostly based on the population growth rate in comparison to the average of the province, new infrastructure construction, job creation, political atmosphere and changes in transportation.

The cited sources in the report are the Canadian Mortgage and Housing Corporation, Statistics Canada, development offices and real estate boards in the provinces and real estate investors.